The research was implemented on order of the RF Ministry for Economic Development.

Project Dates: September  November 2008

Project Summary:

1. Under the project we analyzed the legislation in other countries which regulates activities of sovereign funds (stabilization funds, contingency funds, national welfare funds) and their practices, including:

Sovereign funds management system;

Principles and directions of investing funds resources and control over fulfilling investing rules;

Means for providing transparency and coverage to the funds activities;

Control over target use of the funds resources and evaluation of the financial results;

Regulating sovereign investing funds at the international level.

2. We elaborated suggestions on improving legislation in the field of Reserve Fund and National Welfare Fund activities.

3. We worked out executive order draft of the Government of the Russian Federation on approval the Management Concept for sovereign investing funds in the Russian Federation.